The Financial Accounting Standards Board requires companies to supplement their consolidated financial statements with disclosures about segments
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The Financial Accounting Standards Board requires companies to supplement their consolidated financial statements with disclosures about segments of their businesses. To comply with this standard, the notes to the financial statements included in Time Warner Inc.'s Form 10-K for the year ended December 31, 2015 provides various disclosures for the three segments in which it operates: Turner, Home Box Office, and Warner Bros.
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Which users of accounting information do you think the FASB had in mind when it set this standard? What types of disclosures do you think these users would find helpful?
Financial StatementsFinancial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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Related Book For
Using Financial Accounting Information The Alternative to Debits and Credits
ISBN: 978-1337491471
10th edition
Authors: Gary A. Porter, Curtis L. Norton
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